Thursday, August 25, 2016

It's Viva Las Vegas -- Thanks to $1.85 Million in Grants From This Source

Las Vegas, Nevada, is not only a fun place to visit, but also a great place to live and start a business. The founders of Radioactive Productions certainly agree; they just received a grant from the Valley Center Opportunity Zone program that enabled them to purchase equipment that will make them more competitive in the marketplace.The Valley Center Opportunity Zone

The Valley Center Opportunity Zone program is a community development corporation established by legislation in 2006 to help small businesses located in downtown Las Vegas. The organization was formed as the result of a collaborative effort between the Hispanic and African-American communities of Las Vegas with a primary goal to work with businesses that other lenders turn away.

How the grants help businesses

Every year the organization awards grants to small companies that they can use for signage, property improvement, capacity-building, and capital equipment purchases. Eligibility is based on being in business for at least two years and being located in the downtown area. Grants are $15,000. In 2015, 14 businesses were awarded grants through the Valley Center Opportunity Zone program.

Since its creation, the program has seen good results. To date, it has awarded 129 grants totaling more than $1.85 million and created about 420 jobs, according to Peter Guzman who is the nonprofit’s president.